Recent USDA Ag in Drought data show roughly 23% of U.S. hogs located in moderate or greater drought (D1+) as of late September 2026, with a modest week-over-week increase but a 7-point decline from a year earlier. This aligns closely with the market's leading 15–24% bin. Key hog-producing states in the Midwest, including Iowa and Minnesota, dominate national inventory weighting, and U.S. Drought Monitor analyses indicate stable or slightly improving conditions in northern areas from recent rainfall while southern and western fringes remain drier. The latest monitor reflects ongoing model consensus on limited intensification ahead of the October 6 resolution week, supporting trader focus on the narrow current range amid typical seasonal precipitation variability.